Question

(iii)TheGDPofacountryshows

a.Howwelloffthepeopleofthatcountry?

b. Howmuchemploymentrateisthereinacountry?

c.Standardoflivingofpeople

d.Howbigtheeconomyofthecountryis?​

Answer 1

Answer:

Gross Domestic Product (GDP) is the monetary value of all finished goods and services made within a country during a specific period. GDP provides an economic snapshot of a country, used to estimate the size of an economy and growth rate. GDP can be calculated in three ways, using expenditures, production, or incomes.